Island Ribhouse Leases Retail Space In Crown Heights From The Loketch Group For $30/ft
LEASED
$30
New York
See Similar DealsRetail2,250 SF
Leased 02/01/2023
LEASED
Island Ribhouse Leases Retail Space In Crown Heights From The Loketch Group For $30/ft
611 Nostrand Avenue
See Similar DealsRetail2,250 SF
Leased 02/01/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$30
Total Square Footage:2,250 SF
Transaction Type:Lease
The retail property located at 611 Nostrand Avenue in Crown Heights has been leased by Island Ribhouse. The property, owned by The Loketch Group, was represented by broker Josh Augenbaum of Augenbaum Realty. The lease term is set for 10 years with an asking rent of $30 per square foot for a total of 2,250 square feet.
Summary of transation details
- Property Type: Retail
- Transaction Amount: Lease
- Tenant: Island Ribhouse
- Landlord: The Loketch Group
- Broker: Josh Augenbaum - Augenbaum Realty
- Asking Rent: $30/ft
- Square Footage: 2,250
- Lease Term: 10 years
Josh Augenbaum from Augenbaum Realty served as the representative for The Loketch Group in this lease deal. Island Ribhouse is set to occupy the retail space at 611 Nostrand Avenue for the next 10 years. The lease agreement was made with an asking rent of $30 per square foot, totaling 2,250 square feet.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$77,381.19
Total Lease Value
$773,811.85
Net Landlord Cash Flow$77,381.19
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